to instantly read 150+ free stories & 250-word summaries of all our stories

Running out

Founders vs the board: At FundsIndia, not all was mutual

Exits, firings, court petitions, conflicted employees...and an almost founder-less board. A once-leader FundsIndia, which should've been a tech disruptor, instead got disrupted

20/08/19

Arundhati Ramanathan

With over 1.1 million customers and over $750 million in assets under management, FundsIndia was a true fintech pioneer in pole position. It had customers, revenue and investors. But its founders were ousted in June

This can be chalked up to events that unfolded over the last two years. FundsIndia brought in senior tech executives like Krish Seshadri from Facebook. But one of the co-founders was subsequently removed

This drew battle-lines between those loyal to the founders and those who reported to Seshadri. It resulted in seven people being laid off, three of whom filed legal notices

The company is now fast running out of capital and an exit seems to be an uphill task

conflict.jpg

Want to read a free 200 word summary?

On 15 June, an email from Srikanth Meenakshi, co-founder, and chief operating officer of FundsIndia, went out to the 330 employees at the online mutual funds distribution company. It confirmed a rumour that had been doing the rounds for a week.

Read the full story. Subscribe now.

Also read our exhaustive coverage about Future of Retail, Ride Sharing and Oyo

Why subscribe? Let us explain.

Already Registered?

Related stories

More stories in /Analysis & /Reportage

See all in Reportage, Startups & Technology

This story is for subscribers only.
or

Read the full story. Subscribe now.

Also read our exhaustive coverage about Future of Retail, Ride Sharing and Oyo

Why subscribe? Let us explain.

The selected story is available only for paid subscribers. Might want to change your mind!

Subscribe now

Already Registered?

Questions?

What is The Ken?

The Ken is a subscription-driven media site. We write one story a day (weekdays only). These stories have sharp, original insights on technology, business, science and healthcare from India.

Why do I have to sign up to read your stories?

Our stories are not free. Well, some select stories are. But, a significant part of what we write at The Ken is for subscribers only. We put in a lot of effort and resources in writing our stories and believe that you must pay for good journalism.
Hence, our three plans. 1) The annual membership
2) The free sign up
3) The recurring quarterly subscription

On journalism and why you should pay for it, if you haven’t already seen it, here’s a great explainer from John Oliver.

So, one must pay for journalism?

Yes.

How many stories will I get if I take an annual membership?

895+ stories.

And, in the free sign up?

Four stories every month.

Do I get a refund?

We allow you to sample our journalism for free before signing up, and after you do, we stand by its quality. But we do not offer refunds.

I am not getting my daily emails. Do I have to whitelist emails from The Ken?

An added benefit of your subscription (free/paid) are the daily personalised emails. These emails, at times, might end up in your spam/junk folder due to emojis, attachments or images. In case you’re not receiving these emails, it might help to whitelist us. If the problem still persists, write to us at [email protected].

Why am I unable to access the archives?

Full and unrestricted access to our archives is a feature of our annual membership.

My payment is not going through, what can I do?

Please write to us at [email protected] detailing the payment error or queries.

See all FAQs

    See all results for Ken

    No results found for Ken.